The American writer and financial journalist said that although he owns some amount of crypto currency, he ‘doesn’t completely get it.’
The writer in question is Michael Lewis, the author of the best-selling books, based on which famous films such as The Blind Side, The Big Short and Moneyball were filmed.
How many bitcoins does he have? Their cost is only $ 378. Not quite a huge amount, but it’s much more than he had from the beginning. Several years ago, Lewis was gifted with a bitcoin worth $ 5.
At that time, he was considering writing about currency and wanted to learn more about it. He finished the topic of crypto currency that he spent half a day on bitcoins-enthusiasts in Silicon Valley.
However, his main concern was whether he could spend the currency. The people who advised him on this issue said that he could and helped him create a digital wallet. Then they continued to persuade him and tried to buy a cup of coffee with digital currency in Palo Alto.
‘It was a disaster. Of course it didn’t work. I said, ‘Why don’t you call me when I can buy something with bitcoin,’ and I kept the $5 on my phone.’
Since then, the value of bitcoin has experienced a surge in value. At the beginning of the year, the value of the crypto currency was $ 1,000. Now, 11 months later, it trades just under $ 7200, according to CoinMarketCap.
The highest level, the digital currency reached $ 7,800 yesterday after news that the controversial SegWit2x protocol update was suspended.
However, coins, which Lewis owns, remain in the same digital purse, which was created for him, at a rate of 378 dollars.
‘The bitcoin is now more valuable than my phone.’
He also expressed the view that, although he uses the concept of blockchain, he ‘doesn’t completely get bitcoin.’
Now, however, with the increase in the value of coins, more and more people are finding ways how they can spend the currency on daily purchases.
Japan is one of the examples that covered the market and accepts crypto-currencies for payment for a purchase. In some houses in Miami and London, homeowners sell their homes for cryptocurrencies.
Perhaps it was not easy to use bitcoin to pay for purchases a few years ago, but this is certainly changing, as its value continues to grow.